My Graduate (Post-Student) Debt Diary!

MrJester

>12 Months

MrCrimeFiction wrote: »

Hello. Its great you've identified your debts so quick after Uni and to have a plan is fantastic. It looks like your on the right track. I would personally get your friends and family members paid off first then put all your Money towards the debt with the highest interest.

Can your mobile co,e down any further . £40 sounds a lot!!

Keep at it, the figure will only go down.

Today I came across this thread:
https://forums.moneysavingexpert.com/discussion/5021418

Basically I may be within a chance of cancelling my EE contract altogether due to the cost changes earlier this year, and I've had my contract nearly a year now so have had this change affect me.

If this works out then I'll just buy a phone outright and then I'll have pick of the bunch on sim only deals! Definitely saving me money.
Hope it works out :money:

MrJester

>12 Months

Today I would like to proclaim that I have possibly had the deal of the year I don't know if I'll get a better deal anywhere. Basically been in the need of a new computer chair, was looking at them all online etc but I'd really want to test it out before forking out £60 that most of them cost.

So went to eBay local deals from MSE, and found a few and began bidding, few days later I won a computer chair on eBay for £11.50! I was thinking, great, then had a closer look and it's actually an Interstuhl (expensive!) brand with RRP of £210! I didn't hear back from the seller for a day or so, and so I assumed he wouldn't let me have it for that price surely!
Turns out it was just an office chair that they wanted rid of, so left work early today to go pick it up and basically wheeled it across London to get it home (I don't drive), but it was well worth it!

It's practically brand new and its an expensive chair so it'll have resale value, and I love me some resale value!

That is going in my sig as my latest triumph, bargain hunters or what :cool:

MrJester

>12 Months

OK so despite my success with the cheap new computer chair, what a bargain! I went and got myself a Burger King as feeling a bit deflated today, not totally sure why yet but have some ideas. S'all good. I've sold my iPad today too as I wasn't using it much, so will have money coming in from Amazon for that shortly!

I'm doing well for money right now considering I was SKINT a week or so ago, selling some items I don't use anymore has done me well. I often invest in tech and electronics, I'm a big nerd, whats great about that is most things I own have considerable resale value. :cool:

So because of these successes, I have sent £100 this evening to my mother in payment of the £300 debt I owe to her. That brings it down to £200! And she needs that cash, so by the end of next week when pay day hits I will have paid her back completely!

I planned to pay high interest debts first, but she just comes first if she needs the money, she supports me in whatever I need so always give her it back ASAP. At least, as some have mentioned to me they prefer to pay the smaller debts first to get momentum, so I suppose there's that

Google Budget Sheet updated to reflect the payment, lets go ! Lets get debt free !

MrJester

>12 Months

So I haven't used Equifax before, so recently signed up to the 30 day trial, I've been with Experian before but not wanting to waste money on that, free trial it is.

Since I started the trial my credit rating was 191 (max is 500 or so), so really poor, and today it has SLIGHTLY changed. But its a positive direction and shows that slowly my credit file is sorting itself out with the changes I am slowly doing. It's gone up to 212 as of today, and I had a closer look the reason seems to be that my rating of "Repayment conduct assessment" is now Good.

I think before it was greyed out for some reason, but I'm always up to date with payments I'm pretty sure. Perhaps it's purely as one of my credit agreements has updated my file.

Anyway, positive direction. BTW I do realise credit rating is independent to their assessment, I am merely following it as a general guide.
I'm not showing on the electoral roll on my credit yet, which makes a huge difference I've noticed before when I've done it, so hopefully it will update that before trial ends so I can get a better idea of my rating once it shows me as on the electoral roll. As that is just basic, and will give me a floor rating to work from.

Once I start paying back the Barclaycard considerably, it will be a slow incline in my score/rating.
Strangely enough I've noticed my Halifax card doesn't show up as a credit agreement at all, a bit odd but it may do with Experian instead.

Once the trial ends then for a while each month on payday I'll spend the £2 and get the single report from Experian, just once a month as I know from being in that service previously that updates take so long to change once a month is all you really need to go by really.

OH last night, using some eBay tools like ending soon and no bids tools found here on MSE, I paid like £5 for a bunch of iPhone 5 cases. A hell of a lot of them. I used to sell them but paid full whack for them, but this is a bargain and I can just slowly sell them on eBay and make small profit now from just posting them out whenever they sell. As I said I've sold those before, so will work out the best selling price, its competitive out there but at the price I paid and the amount of them I'm guaranteed a small profit.

As well as that, someone was selling a "box of 300" phone accessories, it literally only had one picture but from what I could see it was things like phone cases, cables, stylus pens and the like. There was no bids, and not surprised when the P&P was £23. But I put in 99p bid and won it, so I've spent £25 on approx a box of 300 random phone accessories, which again I can sell on eBay and am likely to get profits with that amount of stuff for the price!

I'm looking at car boots in my area recently though too, as an interest to try and pick up bargains either for myself or to resell. Vintage/retro/old video games and consoles is what I'd be on the lookout for specifically, something I want to start collecting and reselling because I have interest in it and have a growing general knowledge of what some of the old stuff is worth, just have to wait for a soccer mom to dig out a gem from the attic and sell it for a few quid!
I may also pay for a boot space myself with that amount of items coming my way (assuming they will still send the stuff based on the bargain price I got them for..), then a booth of everythings £1 or 50p or something, easy profits without the hefty eBay fees etc!

OK that's enough blabbering, I have become somewhat addicted to squeezing as much money out of life as I can, but suppose that's not such a bad thing.:o

Loanranger

Have you thought about getting a part time job, say bar work, shop work, shelf filling, waitressing or waiting or something like that? When I was very very hard up I had my day job as a young professional working hard five days a week full time and also got a job working an additional 20 hours a week. So, I was working almost 60 hours a week. It's a bit of a killer but the benefits are two fold: you will pay down your debt and you will not have time or energy to go out looking for stuff to spend your money on. Worth thinking about if you are really serious about getting rid of that albatross around your neck.

MrJester

>12 Months

Loanranger wrote: »

Have you thought about getting a part time job, say bar work, shop work, shelf filling, waitressing or waiting or something like that? When I was very very hard up I had my day job as a young professional working hard five days a week full time and also got a job working an additional 20 hours a week. So, I was working almost 60 hours a week. It's a bit of a killer but the benefits are two fold: you will pay down your debt and you will not have time or energy to go out looking for stuff to spend your money on. Worth thinking about if you are really serious about getting rid of that albatross around your neck.

Thanks for your comment Loanranger.
I haven't thought about that, as to be honest I don't consider it an option for me, I find it difficult and tiring enough getting home at 7PM on the evening.
I'd likely only work for someone else alongside at perhaps a weekend job that I would really enjoy doing, but doing service jobs is not it, as I've been there for most of my uni years and do not wish to suffer it again

I do pretty well not spending my money on much, I spend my weekday evenings at home and at the weekends I only spend if I've made special plans.

What I am doing though, is proactively trying to setup ways to make money from home such as via eBay, and alongside that I am trying to push my hobby of video production into a profitable form which may happen eventually, just have to keep pushing.

Thanks for your comments though, really. I understand where you're coming from, sure it could really help nail that debt away quick but I'd honestly rather pick at it slower, and have more free time to enjoy life when I can.

MrJester

>12 Months

Tried applying for a CC last night as my chances were around 60%.. of course it failed. Don't know what I was thinking. No point applying unless it says at least 80% and I can see for myself my credit file is in good shape.

The priority is lowering that credit utilisation, because it tends to show as maxed out (most of the time it is), which will undoubtedly improve my rating a lot.

I'd like to put some money on the high interest CC but just want to be careful before I do so.. I have £200 to last me until next Friday when payday comes. £100 of that is going to come out the day before payday to Amazon for an accumulation of seller fees. So really I have £100. I might put some of it on the CC, and then I could just use it again if I needed to. I'll wait till after this weekend, 'cause then I know what I need for the week for food.

I spent a little bit last night on Amazon, like £35 on a rat trap as we have a rat in our house and I wont just let it live rent free! and one of those compact stick hoovers, the hoover in the house is completely broke and I know that it will take a week of constant bugging the property agent to get them to replace it. If I have my own anyway, I can keep it in my room and then I have my own permanently. It's just to clear the dust in my room, that arrives tomorrow I think.

I'm currently bidding on a city foldable bike on eBay for local pickup, and once/assuming I get it I'll pick it up next weekend and start cycling into work saving me £120 PCM!! I'm going to brave the crazy London roads and I'll save myself some serious dosh. The underground in the morning is annoying so its more of a preference thing too, its hot and sweaty and when there's delays it frustrates me, I'd rather be able to control how I go about getting to work. I'll get there in 30 mins on bike and it takes around the same amount of time on the tube so its a no-brainer.

I just got a reply from someone on SpareRoom about a flat thats available looks really good, a room infact in a more preferable area, for much cheaper rent! Its £474 cpm (currently paying 650!) but minus bills, so taking that into account it works out around £550, max 600 a month. So it's a £50 saving at least.
Only problem is the place is available 1st Oct, my rent isn't due to run out till mid November.. So I just don't know if I'd be able to get out of this contract without them taking my deposit off me. They're an utterly rubbish agent and never respond to any contact. Will have to think hard on this.
Likelihood is that I will have to leave it, and wait to find a place in November..

Happy weekend!

sweetpea26

>12 Months

Hi JJ

As a mother of 2 students and one on the way to Uni next year well done to you for putting your mother first in your repayment. Its not easy finding cash to help your kids out at times. My son recently whilst abroad came home to a bill of over £400 he was devastated that he hadnt switched roaming off. I paid it for him and he is due a £300 deposit from leaving his flat so I am being paid that.

So keep going live frugally and I will be keeping an eye on you

Someday when you are well off you can treat your mam

MrJester

>12 Months

sweetpea26 wrote: »

Hi JJ

As a mother of 2 students and one on the way to Uni next year well done to you for putting your mother first in your repayment. Its not easy finding cash to help your kids out at times. My son recently whilst abroad came home to a bill of over £400 he was devastated that he hadnt switched roaming off. I paid it for him and he is due a £300 deposit from leaving his flat so I am being paid that.

So keep going live frugally and I will be keeping an eye on you

Someday when you are well off you can treat your mam

I know how hard she's worked to finance me many times to ensure I got through university, without her help I wouldn't have been able to get a job straight out of uni on 22k! It's only up from here. So yeah she always comes first!

Ah that sucks, its very daft something simple to remember but yet people still forget to do it, it's bills like these that as young people we just seem to do, but in many ways its a part of us learning. It's important that we then have to repay our debts ourselves, to learn from it and be proud of the accomplishment IMO.

Oh don't you worry I will! My honest plan is once I get all my debts in order/out the way, the money I would spend on those debts is going to go directly to her once a month. I want to take some debts off her hands completely, slowly I want her to not have to worry about money. She's into her 60s now, on pension, about time she can stop paying for everyone else.

System

You're in a very similar situation to me post-uni, though I didn't owe friends and family, I owed my overdraft and very similarly nailed paying that back so that I didn't owe!

How is Destiny?! I'm trying to consider if it's worth the investment >:]